How to Retain Talent During the Great Resignation
If you’re a business owner or leader, chances are you have had an employee (or numerous employees) quit in recent months. If your team or workplace has been impacted by employees leaving the company, you’re not alone. In fact, in August 2021, nearly 3% of all workers quit their jobs. That record-breaking month was preceded by other record months.
Not only did millions of people quit in what has been dubbed The Great Resignation, but 41% of workers in a global study by Microsoft also say they are considering quitting.
Turnover is a part of every business, but continuous high turnover is clearly unsustainable.
As a leader in your organization, what steps can you take to retain your employees in the face of The Great Resignation? Here are some ideas:
Embrace Honest Communication
The only way you can prevent your best employees from leaving is knowing if they are unhappy in the first place.
When one of your best employees quits, it may come as a shock. They were always engaged at work, and you thought they were happy in their role. If a resignation catches you by surprise, it’s probably because you did not communicate with that employee enough.
The communication you need to retain talent is more than discussing projects, metrics or performance. You need to communicate with them frequently about their overall job satisfaction. But first you need to build trust. This starts by having real conversations with your employees.
Find out more about them. Encourage them to share more about their lives. In turn, you should let your guard down as well to strengthen your connection to your employees.
When you create real conversations with your top talent, you will know they are unhappy before they quit, offering you a chance to change their mind.
In the wake of the COVID-19 pandemic, work-life balance is more valued than ever before. The pandemic gave people time to reevaluate what was important in their life. This led to the desire for a better work-life balance.
By offering your employees the flexibility to work remotely or to complete work on their own time, you will be able to better retain those who have presently placed greater importance on work-life balance.
Try Something Different
We all know that higher salaries and excellent benefits can be very effective employee retention tactics. But as thousands of companies, including your competition, offer better pay and benefits to entice employees to stay, you should look to do something different to stand out.
For example, you could offer backup child care for working parents. One company that manages employer-based child care, Bright Horizons Family Solutions, surveyed its clients and found that 50% of employees would have needed to reduce their work hours without backup child care.
Every business is different, so you may not be able to implement all of these tips. You will need to find what works for your organization. The most important thing to keep in mind is this: treat your employees well and they will have loyalty to your company. How you will achieve that is ultimately up to you.
Get Help Filling Positions
If you’ve been impacted by The Great Resignation and need help filling open positions at your company, contact Burchard & Associates. We help companies in the St. Louis area and beyond find talented professionals to join their organizations. Contact us today to learn how we can help with your recruitment.